Bitcoin recovered to the $111,000 level after a price drop last Friday and stabilizing over the weekend. This is analyzed as an impact of Trump's postponement of tariffs on the EU originally scheduled to take effect on June 1st.
The altcoin market is also showing an overall upward trend, with HYPE in particular maintaining its lead among major altcoins by recording a new all-time high close to $40 today.
Bitcoin faced two resistance levels near the $107,000 range early last week but broke through $109,100 on Wednesday, approaching a new high of $111,000. On Thursday's Pizza Day, it soared to $112,000, achieving another peak.
However, it sharply dropped below $107,500 on Friday due to Trump's recommendation of EU tariffs. It maintained this level over the weekend and rebounded with news that EU tariffs were delayed by at least a month. During Asian trading hours, it recovered to $111,000 and is currently maintaining this level.
According to CoinGecko, Bitcoin's market capitalization is currently at $218 billion, with a market dominance of 61.1% of the total cryptocurrency market.
Meanwhile, HYPE continues its upward trend despite a hacking incident on its official X account. It recorded a new all-time high close to $40 today, with a daily increase exceeding 12%. However, it has experienced a slight adjustment after reaching its peak.
In terms of daily increase, JUP, VIRTUAL, and FET surpassed HYPE. Among major altcoins, AVAX, ADA, UNI, TAO, APT, ICP, ETH, SOL, and Doge showed notable gains.
According to CoinGecko, the total cryptocurrency market capitalization increased by approximately $8 billion from the previous day, reaching $357 billion.
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